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New Textiles Policy 2020

Background The existing National Textile Policy 2000 was framed about 13 years ago. Since then, the industry has undergone various changes on the domestic and international front. The domestic textile industry has seen large-scale modernization and technological up-gradation in the last decade and faces new challenges. About the New Textile Policy 2020 It is aimed at developing in the country a competitive textile sector that is modern, sustainable, and inclusive. This new

FDI policy regarding Special Economic Zones (SEZs)

Syllabus subtopic: Effects of Liberalization on the Economy, Changes in Industrial Policy and their Effects on Industrial Growth.   Prelims and Mains focus: above the move and its significance; about SEZs   News: Goods procured from units in special economic zones (SEZ) by single brand retailers, owned by foreign companies, would qualify for meeting the mandatory 30% local sourcing norms, the government said in a clarification.   Background The statement came

National Technical Textiles Mission

The Cabinet Committee on Economic Affairs (CCEA) approved the establishment of a National Technical Textiles Mission to help India position itself as a “global leader” in technical textiles. This includes increasing exports of these “futuristic” segments of textiles by over 40 per cent in the next two years. What are technical textiles? Technical textiles are products used for functional purposes. They have various applications, ranging from agriculture, roads

NRIs permitted to own 100% stake in Air India

Syllabus subtopic: Effects of Liberalization on the Economy, Changes in Industrial Policy and their Effects on Industrial Growth.   Prelims and Mains focus: about the move to privatize Air India and its significance; about Air India   News: The Union cabinet approved a proposal to let non-resident Indians (NRIs) own up to a 100% stake in Air India Ltd as the government attempts to make a success of its second attempt to completely privatize the debt-laden airline.  

Industrial revolution 4.0

Industrial revolution 4.0 Part of: GS Prelims and GS-III- Economy (PT-MAINS-PT) Technology forms the subtext of human development. History is loaded with instances of technology serving as catalyst in the grand narrative of human development. From basic necessities like food, air, water, clothing and shelter, to structural requirements like security technology has played a tremendous role in every field of human growth and survival. Invention of the transistor: Around the year 19

Rural Industries – MSME ACT – MGNREGA

Rural Industries – MSME ACT – MGNREGA Part of: GS-III- Energy/Industries (PT-MAINS-PERSONALITY TEST) Rural industrial activities can be divided into the following three categories: small-scale cottage activities, medium-scale village enterprises, and large-scale rural industries. This classification can be carried out on the basis of the following criteria: Location; ownership; labour source and organization; complexity of technology used;  scale of producti

Khadi and Village Industries Commission (KVIC)

Context: When the country was struggling hard with deadly Corona virus, Khadi and Village Industries Commission (KVIC), an autonomous body under Ministry of MSME, in collaboration with its Khadi Institutions (KIs) in Tamil Nadu has discharged its responsibility once again by purchasing cocoons from cocoon farmers. The main objectives of KVIC was to help the cocoon farmers struggling to sell their crop due to lock down pandemic outbreak and secondly to ensure continuous supply of Cocoons

NDMA ISSUES guidelines for restarting industries post lockdown

NDMA ISSUES guidelines for restarting industries post lockdown Part of: GS-III- Economy (PT-MAINS-PERSONALITY TEST) In its guidelines, NDMA said state governments will ensure that off- site diaster management plan of the respective major Accidental Hazard units are up to date and preparedness to implement them is high. Important points All the responsible officers of the district will ensure that the industrial on- Site Disaster Management Plans are also in place and cover Standa

CHAMPIONS portal - MSME

CHAMPIONS portal Introduction In a major initiative Union Ministry of MSME has launched CHAMPIONS portal. About CHAMPIONS portal CHAMPIONS portal is a Technology driven Control Room-Cum-Management Information System. The system utilising modern ICT tools is aimed at assisting Indian MSMEs march into big league as National and Global CHAMPIONS. The CHAMPIONS stands here for Creation and Harmonious Application of Modern Processes for Increasing the Output and National Strength

IEM (Industrial Entrepreneur Memorandum)

IEM (Industrial Entrepreneur Memorandum) Context Applications for IEM/IL under I(D&R) Act, 1951 are currently accepted through the IEM portal at https://services.dipp.gov.in. Through this portal, applications for acknowledgement of IEM – Part A (for establishment of business) and IEM – Part B (upon commencement of commercial production) are filed online by entrepreneurs of prescribed industrial undertakings. (1) What is an IEM (Industrial Entrepreneur Memorandum)

Limited Liability Partnership

Limited Liability Partnership About: What is it? LLP is an alternative corporate business form that gives the benefits of limited liability of a company and the flexibility of a partnership. Hence LLP is called a hybrid between a company and a partnership. Legislation in India All limited liability partnership is governed under the limited liability partnership act of 2008. The Corporate Affairs Ministry implements the Act. LLP vs Traditional partnership firm: Under &

Federation of Indian Chambers of Commerce and Industry (FICCI)

Federation of Indian Chambers of Commerce and Industry (FICCI) Context With a view to achieve atmanirbharata in the Coal sector, the Ministry of Coal in association with FICCI is launching the process for auction of 41 coal mines under the provisions of CM (SP) Act and MMDR Act. This auction process marks the beginning of opening of Indian coal sector for commercial mining. It will enable the country achieve self-sufficiency in meeting its energy needs and boost industrial development. The

National Productivity Day

National Productivity Day The National Productivity Council is observed 12th February as National Productivity Day, and till 18th February National Productivity Week. "Industry 4.0 Leapfrog Opportunity for India” is the theme of the National Productivity Week -2018. Industry 4.0 is characterized by the increasing digitization and interconnection of products, value chains and business models. National Productivity Council (NPC) NPC is a mission oriented apex, autonomous a

Core’s contraction: On slowing economy

Core’s contraction: On slowing economy Context # Output in the eight core industries suffered an overall contraction for a third straight month in May, shrinking 23.4%, as the pandemic-induced lockdown kept large parts of the economy shuttered, the Commerce Ministry’s provisional figures show.   Core Sector Data # Of the eight, all but one posted declines in production compared with a year earlier, with six sectors witnessing double-digit drops. # Except fert

For a different yardstick: on 'Doing Business' report

For a different yardstick: on 'Doing Business' report Context: The article examines the need to revamp the World Bank’s ‘Doing Business’ survey to make it more comprehensive. The World Bank has decided to halt its annual ‘Doing Business’ report on data authenticity issues. ‘Doing Business’ index: The doing business index estimates the cost to business from regulations. Erratic procedures and delays hamper business in India a

Exploiting the Chinese exit

Exploiting the Chinese exit Context: The article analyzes the economic opportunities which have opened up for India post the Chinese app ban in India. The Chinese app ban in India: The government in September 2020 banned 118 applications — a majority being Chinese, on grounds of national security and sovereignty threat posed by these apps. In June 2020, the government had banned 59 Applications on similar grounds. India has additionally blocked Chinese companies fro

Needed, a policy framework in step with technology

Needed, a policy framework in step with technology Context As technology has evolved in the latter part of the 20th century and the early part of the 21st century, the traditional boundaries between goods and services have blurred. By virtue of Moore’s law, computing capabilities have surged faster than capabilities in traditional industries. These information-based technologies have been widely adopted across a broad range of industries and products that traditionally have

Core Industries, IIP and Annual Survey of India

Core Industries, IIP and Annual Survey of India What is in the news? Output from India’s eight core sectors hit a three-month low in November, contracting 2.6% in the festive month with coal, fertilizers and electricity the only sectors to record positive growth on a year-on-year basis, suggesting the economy is still not out of the woods. The good news is that the Index of Eight Core Industries was revised upwards for both August and October, based on updated data inputs re

Procurement Schemes in India: Government e-Marketplace

About Government e-Marketplace(GeM), 2016 (Ministry of Commerce and Industry) GeM is a one-stop National Public Procurement  Portal to  facilitate online  procurement  of  common use Goods & Services required by Center, States, their organizations and PSUs. Procurement of goods & services by Ministries and CPSEs is mandatory for goods and services available on GeM. It will bring transparency and efficiency in the government buying process. It also

Draft policy to help grow nano, micro enterprises

Draft policy to help grow nano, micro enterprises Udyog Sahayak Enterprises Network put together by FICCI, TISS and Azim Premji University A new policy on the anvil, the Udyog Sahayak Enterprises Network (USENET), may give a major fillip to the growth-stunted nano and micro-enterprises in India’s informal sector. The proposed framework, whose draft was jointly put together by the Azim Premji University, the Federation of Indian Chambers of Commerce and Industry (FICCI), and the T

Production-Linked Incentive Scheme for the Telecom Sector

Aim of the scheme: It will make India a global hub for manufacturing telecom equipment. It will create jobs and reduce imports especially from China. Focus of the scheme: The scheme will offset the huge import of telecom equipment worth more than Rs 50,000 crore. It will encourage the foreign manufacturers and domestic manufacturers to set up production units in India.   Coverage: The scheme will cover domestic manufacturing of equipment such as core transm

Startup Ecosystem in India

What is the Startup Ecosystem in India? India has the 3rd largest startup ecosystem in the world; expected to witness YoY growth of a consistent annual growth of 12-15% India has about 50,000 startups in India in 2018; around 8,900 – 9,300 of these are technology led startups 1300 new tech startups were born in 2019 alone implying there are 2-3 tech startups born every day. Definition of Startup Expanded An entity shall be considered as a Startup: Upto a period of ten

Government initiatives to boost Industrial Manufacturing

Government initiatives to boost Industrial Manufacturing Government of India has taken several steps to improve the quality standards of products manufactured under the AatmaNirbhar Bharat Campaign. These inter alia include: Quality Control Orders (QCOs): Since the announcement of AatmaNirbhar Bharat campaign, Central Government through its various Ministries/Departments has notified 156 products under compulsory BIS certification through issuance of QCOs. As per these QCOs, the product

Government efforts for Manufacturing sector

Production Linked Incentive scheme: Keeping in view India’s vision of becoming Aatamnirbhar and enhancing India’s Manufacturing capabilities and exports, an outlay of Rs 1.97 lakh crore has been announced in Union Budget 2021-22 for production linked incentive scheme(PLI schemes) for 13 key sectors for 5 years starting from fiscal year 2021-22.On 12th May, 2021, MHI has approved a production linked incentive scheme (PLI scheme) for Advance Chemistry Cell(ACC) in the country. 

PLI Scheme for Textiles

Why in news? Taking steps forward towards the vision of an ‘Aatmanirbhar Bharat’, Government has approved the PLI Scheme for Textiles for MMF Apparel, MMF Fabrics and 10 segments/ products of Technical Textiles with a budgetary outlay of Rs. 10,683 crore. PLI scheme for Textiles is part of the overall announcement of PLI Schemes for 13 sectors made earlier during the Union Budget 2021-22, with an outlay of Rs. 1.97 lakh crore. With the announcement of PLI Schemes for 13 s

Coir Industry in India

Coir Industry Coir Board was set up under the Coir Industry Act, 1953 by the Government of India for the overall sustainable development of coir industry in the Country. The functions of the Board as laid down under the Act include undertaking, assisting and encouraging scientific, technological and economic research, modernization, quality improvement, human resource development, market promotion and welfare of all those who are engaged in this industry. The Head Quarters

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